KB Homes Expects Slowdown in 2006 Homes
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
KB Homes is looking at a slowdown in 2006 as demand for new homes has slowed down with orders cancellations increasing. Even with the slowdown in demand, the company still is expecting to earn $11.29 a share.
“In the first two months of the year, we have experienced an increase in home order cancellations and a decline in net orders for new homes when compared to the same period last year,” the company said in a Feb. 10 filing with the Securities and Exchange Commission.
“If the current trends do not improve, we may be required to moderate our revenue guidance for fiscal year 2006,” it said.
But the company said it does not expect to change its estimates of earnings per share, as it has been buying back shares.
Analysts estimate 2006 profit of $11.29 per share on sales of $11.7 billion.
KB’s warnings is yet another signal of the slowing U.S. housing market. KB builds homes for wide range of buyers, including first-time buyers who are more sensitive to rising mortgage rates. Last week, luxury home builder Toll Brothers cut its sales estimate for the second time in three months. via Reuters
This can be a good thing for people in trouble, but the question is still what is going to be ...
Not only is real estate a bright spot it should be a part of everyone's IRA and 401K account because ...
Okay with the market the way it is......I have found another path for real estate.....you dont become a land lord...you ...
The housing and credit markets are a mess right now. Several major banks that engaged in questionable subprime mortgage lending ...
Also, check out new private contracts that can allow you to guarantee that you will not loose your investment in ...
Brilliant use of promotion. Here it is being used on Reseda Blvd in Northridge, CA at Meridian Place Apartments! Wow ...
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
